SEC

Nevada Best Interest Reg; PODCAST; Inside the Problem Solvers Caucus; Congressional Vacancies; Liability Heads Up on Data

Topics: Advisor standard of conduct, Best interest, Congress, DOL, Fiduciary, NAIC, Regulation, SEC

March 08, 2019 AALU Submits Comments on the Nevada Standard of Care Proposal In January, the Nevada Securities Division (NSD) proposed a set of fiduciary rules, implementing a law enacted in 2017. The NV law that this regulation is based on expanded the types of financial professionals that are subject to Nevada’s existing fiduciary standard.…

The SEC Standard of Care Proposal and Best Interest Regulation: Where Do We Go from Here?

Topics: Advisor Standard of Care, Best interest, Regulation, SEC

Join us as Bridget McNamara-Fenesy, CEO & President of M Holdings Securities, and Jim Lundy, Partner at Drinker Biddle discuss the SEC’s Standard of Care Proposal and AALU’s engagement to date, as well as the Proposal’s intersection with best interest efforts at the state level. Bridget and Jim will review the key tenets of the…

AALU Submits Comments on SEC Standard of Care Proposal

Topics: SEC

On April 18th, the Securities and Exchange Commission (SEC) issued a standard of care proposal for broker-dealers and investment advisors that aims to reform the way that financial professionals serve retail investors for the sale of variable life and annuity products. The comment period ended August 7th, and AALU provided comments along with many of…

WRN#18.04.27: SEC Proposes New Regulations for Investment Professionals

Topics: Best interest, Regulation, SEC

Moving more rapidly than was originally anticipated, the Securities and Exchange Commission (SEC) proposed a three-part regulatory package on April 18th, totaling almost 1,000 pages. These proposed changes are aimed at reforming the way that financial professionals serve retail investors, and would apply to producers selling variable annuities and other SEC-regulated securities.

WRN#18.04.20

Topics: Best interest, Regulation, SEC

On Wednesday, the Securities and Exchange Commission (SEC) proposed Regulation Best Interest, applicable to brokers and advisors, on a 4-1 vote. The proposal requires broker- dealers to act in the best interest of customers; they cannot put their financial interest ahead of retail customers. The proposal also aims to provide clarity around the fiduciary duties…

SEC v. Life Partners- Win Some – Lose Some – But Not Win Some

Topics: Regulation, SEC

On January 16th, 2014, Linas Sudzius (WRNewswire #14.01.16) wrote that “Life Partners Holdings, Inc. (“LPHI”) is a viatical settlement company which the SEC alleged had misrepresented the value of its life settlement portfolio to LPHI shareholders. In a pre-trial decision, the court had ruled that life settlements are securities.”